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Celect in the News: Inventory Mgmt 2.0

In an Amazon Prime world, omni-channel retailers are challenged to manage multiple sources of demand when customers expect everything in stock all the time, whether they are in the store at 1 p.m. or online at 1 a.m. To beat the real-time “last mile” supply chain challenge, retailers must be able to compete with Amazon by leveraging their stores and distribution centers as one unified distribution center to achieve massive margin gains. 

In the latest issue of Inside Outdoor Magazine, John Andrews, CEO of Celect, shared how retailers have a huge opportunity to derive more revenue from their inventory decisions and beat Amazon at its own supply chain game.

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Topics: amazon, amazon prime, artificial intelligence, inventory optimization, brick-and-mortar retail, physical stores, machine learning, fulfillment optimization, advanced analytics

Retail TouchPoints Announces Lucky Brand as Winner of 2019 Retail Innovator Award

We are thrilled to share the announcement of Lucky Brand as a winner for the 2019 Retail Innovator Award because of their work with Celect to optimize inventory decision-making! Retail TouchPoints (RTP), the industry's go-to source for the latest retail trends, strategies and technology innovation, has announced the 2019 Retail Innovator Award winners and names Mike Relich, Chief Operating Officer at Lucky Brand, and Miles Barger, Vice President of Merchandise Planning, Allocation, and Inventory Optimization at Lucky Brand, as winners in the category of Data Guru.

In its sixth year, the Retail Innovator Awards honor retail executives and thought leaders who: 

“[T]hink outside the box to develop and foster innovative concepts and strategies that help move the overall retail industry forward.” 

There were 100 nominations in total and the list of 18 winners was announced at today’s Retail Innovation Conference in New York City. Those who attended the event heard directly from Miles Barger, who shared Lucky Brand’s success story on using advanced analytics to optimize allocation and store fulfillment using Celect.

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Topics: allocation, artificial intelligence, inventory optimization, brick-and-mortar retail, physical stores, machine learning, fulfillment optimization, advanced analytics, awards

The Biggest Takeaway from NRF 2019? Optimize Everything.

The word “optimize” was littered across the expo floor at NRF 2019.

From shelf space to e-commerce basket sizes to your in-store workforce – every process across the retail value chain seems to be begging for optimization. “Frictionless,” “efficient,” and “seamless” were the all-encompassing descriptors used to entice interest and engagement among attendees perusing the aisles for technology solutions, ideas, or (let’s be real) free giveaway swag. 

The need for optimization is unequivocal as retail organizations are tasked with executing costly decisions on a daily basis at a tremendous scale. Yet how to approach this problem is less than certain when there are numerous opportunities to improve decisions at each stage of the retail process. Whether your current struggle hinges on production, inventory, store operations, or last mile fulfillment — whatever the challenge may be — the technology available today will enable retailers to glean insights into the mountainous amount of data they have. 

Based on our observations at the big show in NYC, it’s apparent retailers must prioritize investments in tools like artificial intelligence (AI) and advanced analytics to make the optimal decisions to meet the ever-evolving needs of their customers.

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Topics: allocation, retail technology, retail trends, artificial intelligence, inventory optimization, brick-and-mortar retail, fulfillment optimization, advanced analytics, demand prediction, NRF2019

Q&A with the ALDO Group on the ROI of Advanced Analytics (Part 2)

In our latest webcast, Marc Chretien, Sr. Director of eCommerce Operations at the ALDO Group, shared his perspective on how the company approaches order fulfillment and advanced analytics in today's evolving retail landscape. 

Last week, we touched on the first part of the live Q&A, which consisted of insights around: 

  • the potential and complexity of optimizing store inventories for online order fulfillment
  • the unique approach the ALDO Group takes when fulfilling online orders from stores

In this post, we'll share the second half of the discussion to learn:

  • The process the ALDO Group took towards adopting advanced analytics
  • How ALDO Group dramatically increased sales, margins, and conversions with Celect Fulfillment Optimization 

Read on to learn what Marc has to say below: 

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Topics: ecommerce, brick-and-mortar retail, fulfillment optimization, cross-channel demand, advanced analytics, customer preference, order fulfillment, demand prediction

Q&A with the ALDO Group on the Challenges of Online Fulfillment (Part 1)

To thrive in a hyper-competitive market, retailers are turning to advanced analytics and optimization to drive their ship-from-store effectiveness

The ALDO Group, a global fashion retailer, is taking a different approach to omnichannel fulfillment—and realizing some serious benefits leveraging advanced analytics with Celect. 

Todd Harris, Director of Marketing at Celect, sat down a couple weeks ago with Marc Chretien, Sr. Director of eCommerce Operations at the ALDO Group, for a live Q&A to hear his thoughts on:

  • the potential and complexity of optimizing store inventories for online order fulfillment
  • the unique approach the ALDO Group takes when fulfilling online orders from stores

Check out the the first part of the Q&A transcript below, where Marc shares his experience and thoughts on some of the biggest challenges and opportunities the ALDO Group faced as it relates to fulfilling online orders from stores. 

You can (of course) access the full video interview here

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Topics: ecommerce, brick-and-mortar retail, fulfillment optimization, cross-channel demand, advanced analytics, customer preference, order fulfillment, demand prediction

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